Q4 2023 BW Offshore Ltd Earnings Call Transcript
Good morning, everyone, and welcome to the fourth quarter 2023 presentation of BW Offshore. My name is Marco Beenen, CEO and I'm here together with Stale Andreassen, our CFO, who will run you through the financials.
Then moving on to our disclaimer, please take note. Then moving on to the highlight BW Opal, our newbuild gas FPSO for the Barossa project is now in the integration and commissioning phase in Singapore at the city of yard. We sold our shareholding in BW Energy to the BW Group at an attractive price of USD176 million and this creates a cleaner corporate structure and it allows us to drive our own destiny with capital allocation.
The dividend in Q4 will be a cash dividend of USD60 million, and this is the maximum under our debt covenants and that totals to USD49 million payout over the year. Full year EBITDA for 2023 came in at USD306 million and a net profit of EUR98 million and that's a solid financial performance.
Then moving on to the operational update. The BW Opal FPSO project remains on track integration work has
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